Students aren't all that enthused about living off campus; and rightly so. When else are you going to be able to live in a dorm? Never. Nobody has ever heard of a 35-year-old guy or lady going back to school and living in the dorms. Think about the roommate conflicts. Houses are great, having your own apartment is great, but it is also another responsibility you have to take on that you could easily put off for a couple years. Living on campus keeps you closer and more connected to what's going on, and during the winter, nobody's going to want to go all the way over to your place just to hang out with you (unless your place is the party).
You could definitely save money living off campus, and if you want to live more independently, it's a great way to go. Of course, I'm not so sure it's a great way to go at Beloit, mainly because the town is a big downer, and you pretty much become the oddball that has off-campus written next to your name in the student directory. It's like you're the lost lamb, and since we've cut ties with religion, there's no guarantee anybody is going to come out and find you.